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The lid has been lifted on one of the worst-kept secrets in Colorado brewing: Breckenridge Brewery is building a $20 million brewery complex on 12 acres along the South Platte River in Littleton that will both give it desperately needed room to grow and serve as a tourist destination.

The fifth-largest brewer based in Colorado has been searching for a new, larger home after multiple years of double-digit growth caused it to outgrow its existing brewery on Kalamath Street in Denver.

Breckenridge began in the mountain town of the same name in 1990. In 2011, Breckenridge Holdings merged with Wynkoop Holdings Inc. (best known for the flagship brewpub in LoDo co-founded by Gov. John Hickenlooper) to form a joint venture that includes both flagship breweries and a dozen restaurants.

Breckenridge is under contract to purchase the property from Designs by Sundown - a landscape architecture and construction firm - for $2.7 million, said Todd Usry, Breckenridge brewmaster and director of brewing.

The land in the 6700 block of South Santa Fe Boulevard is south of Hudson Gardens, north of Aspen Grove shopping center and adjacent to the Reynolds Landing pavilion and canoe launch on the Platte River.

The new brewery will not be up and running until late 2014 or early 2015, Usry said. The project also will create new jobs. Breckenridge says it employs about 40 at its current location and the workforce could grow to 90 at the Littleton location.

"For me, it's kind of the culmination of 22 years making Breckenridge Beer," Usry said. "To have a destination brewery like this, something that represents us and who we are and how we go about our business is super exciting. I'm really excited we are staying in Colorado, we're investing in Colorado and that we're going to have a landmark tribute to the incredible Colorado craft beer industry."